Mexican peso appreciates after Macron victory

By Elliot Bullman

The Mexican peso appreciated Sunday in international operations after the triumph of former banker Emmanuel Macron in the presidential elections in France.

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Macron, who has a pro vision of European integration, defeated Marine Le Pen, an extreme right-wing nationalist who threatened to pull the country out of the European Union and whose advance in polls prior to the first round of elections last month had caused nervousness in the markets.

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Although investors were already hoping for Macron's win against Le Pen, they were relieved by the wide margin of the ex-soldier and pro-European in front of the far-right candidate.

The Mexican peso celebrated the victory of the ex-banker Emmanuel Macron in the presidential elections of France, by defeating the right-wing candidate Marine Le Pen by a wide margin. The peso traded at 18,915 per dollar, up 0.46 percent, compared to 19,0025 pesos from Friday's benchmark Reuters price.

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The Mexican peso finished last week strong having taken advantage of the weakness of the dollar in the international market. Encouraging news regarding the US unemployment rate falling unexpectedly to 4.4 percent in April also helped the peso.

Looking ahead this week the Mexican peso's upside potential could be further boosted by the shifting views of Trump and top officials of his administration over the upcoming North American Free Trade Agreement (NAFTA) negotiations.

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